DA Davidson Comments on The Clorox Company's FY2024 Earnings (NYSE:CLX)

The Clorox Company (NYSE:CLX - Free Report) - Stock analysts at DA Davidson issued their FY2024 earnings estimates for Clorox in a research report issued on Wednesday, May 1st. DA Davidson analyst L. Weiser forecasts that the company will post earnings of $5.25 per share for the year. DA Davidson has a "Neutral" rating and a $162.00 price target on the stock. The consensus estimate for Clorox's current full-year earnings is $5.85 per share.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Clorox from $155.00 to $151.00 and set a "hold" rating for the company in a report on Wednesday, April 17th. Morgan Stanley restated an "equal weight" rating and set a $160.00 target price on shares of Clorox in a report on Tuesday, March 26th. JPMorgan Chase & Co. cut their price target on Clorox from $159.00 to $158.00 and set a "neutral" rating for the company in a report on Wednesday. The Goldman Sachs Group initiated coverage on Clorox in a research note on Friday, March 1st. They set a "sell" rating and a $140.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on Clorox from $140.00 to $135.00 and set an "underweight" rating for the company in a research note on Thursday. Four analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $149.13.

Clorox Price Performance

Shares of CLX stock traded down $1.44 during mid-day trading on Friday, hitting $138.23. 2,027,285 shares of the stock were exchanged, compared to its average volume of 1,273,688. The company has a quick ratio of 0.57, a current ratio of 0.90 and a debt-to-equity ratio of 9.73. Clorox has a 52-week low of $114.68 and a 52-week high of $176.24. The firm has a fifty day moving average of $148.74 and a 200 day moving average of $143.08. The company has a market cap of $17.17 billion, a PE ratio of 71.62, a price-to-earnings-growth ratio of 2.08 and a beta of 0.44.

Clorox (NYSE:CLX - Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.38. Clorox had a return on equity of 302.49% and a net margin of 3.33%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business earned $1.51 earnings per share. The company's revenue was down 5.3% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its position in shares of Clorox by 0.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 13,900 shares of the company's stock worth $1,982,000 after purchasing an additional 66 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Clorox by 6.2% during the 1st quarter. Lindbrook Capital LLC now owns 1,182 shares of the company's stock worth $181,000 after acquiring an additional 69 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services lifted its stake in Clorox by 3.2% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 2,257 shares of the company's stock worth $322,000 after purchasing an additional 71 shares during the last quarter. Modera Wealth Management LLC boosted its holdings in Clorox by 1.4% in the third quarter. Modera Wealth Management LLC now owns 5,130 shares of the company's stock valued at $672,000 after purchasing an additional 71 shares in the last quarter. Finally, Czech National Bank increased its stake in Clorox by 0.3% in the fourth quarter. Czech National Bank now owns 21,718 shares of the company's stock valued at $3,097,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 78.53% of the company's stock.

Clorox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Wednesday, April 24th will be paid a $1.20 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $4.80 annualized dividend and a dividend yield of 3.47%. Clorox's dividend payout ratio (DPR) is 248.71%.

About Clorox

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.